Ripple Labs CLO Stuart Alderoty has flagged latest brief from SEC in Coinbase lawsuit
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There is so much wrong with the SEC’s brief in the Coinbase case I don’t know where to begin. Let’s start with the SEC claiming, without citation or support, that digital assets have no innate or inherent value while collectible baseball cards do.According to the Ripple CLO, the market regulator has once again made a claim in its latest brief in opposition to Coinbase's that is inconsistent with the facts.
Alderoty, like many other crypto-inclined legal experts, has frequently called out the SEC chairman for the regulatory tactics of the commission. Since he became the chairman of the regulatory body, Gensler has not backtracked from the historic record of the SEC in cracking down against the nascent crypto ecosystem.
There has been a consistent call for proper reasoning on the part of the educator as crypto innovators have proven with detailed explanations how most cryptocurrencies are not worth being classified as investment contracts.While fighting the SEC individually might be difficult, Ripple Labs' victory in at least getting Judge Analisa Torres to With the denial of the motion for Interlocutory Appeal as filed by the SEC, this precedent is further solidified.
The crypto ecosystem has been scoring significant wins over the SEC lately, and many believe more defeats will come to the regulatory body if its position remains unchanged.Godfrey Benjamin is an experienced crypto journalist whose main goal is to educate everyone around him about the prospects of Web 3.0. His love for crypto was birthed when, as a former banker, he discovered the obvious advantages of decentralized money over traditional payments.
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